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the affirmation rule overturned. Baum told him that the firm was merely following the wish of one its client servicers, and that the rule was simply "confusing." In a final email, Nocera quoted Baum as saying, "There is blood on your hands for this one, Joe. I will never, ever forgive you for this." Two days later, Baum announced that the firm would close down due to the business lost by the Fannie and
Freddie ban.
360:
Three weeks later, Nocera wrote a follow-up column that began by quoting an email he had received from Baum: "You have destroyed everything and everyone related to Steven J. Baum PC. It took 40 years to build this firm and three weeks to tear down," he said. He had asked about Baum's effort to have
244:
His son Steven J. Baum joined the firm in 1986. He chaired the
Foreclosure and Workout Committee of the NYSBA. In 1999, when his father died, the firm assumed his name. Shortly afterwards, an associated firm, Pillar Processing LLC, was created to handle document processing. It was later spun off to
315:, published photographs taken at the firm's Halloween party the previous year that had been sent to him by an employee. The employees were dressed like homeless or poor people, and wore signs around their necks saying things like "3rd Party Squatter – I Lost My Home & I Was
290:. It admitted no wrongdoing beyond "occasionally inadvertent errors in its legal filings in state and federal court." In October 2010, the state's chief administrative judge imposed a rule requiring clients to affirm the original documents under penalty of
261:
of the late 2000s (decade), foreclosures, originally just one aspect of the firm's business, became its primary business. It became the largest foreclosure firm in the state, involved in 40% of all actions in New York. It opened a satellite office on
274:
scandal, in which forged documents were filed to initiate actions on behalf of clients who may not have been the original lenders or servicers. A Brooklyn judge said Baum operated "in a parallel mortgage universe, unrelated to the real universe".
294:. It limited the company's business, and Baum later argued in court that it should be reversed as unconstitutional. The affirmation rule had an adverse effect on homeowners against whom foreclosure notices had been filed: without it, no
322:", a common response to foreclosure proceedings. Another image depicted a row of mock houses identified as "Baum Estates" with foreclosure notices in front, and a third display imagined the death of a Manhattan attorney who had filed a
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suit against the firm. "There is this really cavalier attitude," Nocera quoted his source as saying. "It doesn't matter that people are going to lose their homes." A spokesman for the firm called the column "another attempt by
227:
barred lenders and servicers from using the firm for foreclosures. State and federal investigations are continuing. Within a week Baum announced it was closing the firm, citing the negative publicity and lost business.
270:, to handle the extra business. Many lawyers for homeowners and consumer activists derisively referred to Baum as a "foreclosure mill", and it was investigated by the state and federal governments for its role in the
236:
Marvin R. Baum founded the firm in 1972. In addition to practicing law in the foreclosure area, he wrote and lectured on the topic and real estate law in general. He chaired the Real
Property Law Section of the
364:
In March 2012, after the firm closed down, Baum reached a settlement for $ 4 million (~$ 5.25 million in 2023) with the State of New York over abuses in their legal work, without admitting any wrongdoing.
202:
suits against it. After state courts instituted a rule designed to curtail fraudulent foreclosure filings, a rule the firm had fought in court, new filings by Baum's clients dropped considerably.
27:
171:
in 1972, and remained under that name until Marvin Baum's death in 1999, after which his son Steven inherited the business and renamed it after himself. Its practice was primarily in
737:
190:
in the late 2000s (decade), Baum handled 40% of all foreclosures in the state, the most of any law firm in New York. Many of the foreclosures it initiated were products of the
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party the previous year, leaked to him by an employee. They depicted costumes and decoration that mocked homeowners and critics of the firm. Shortly afterwards,
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scandal, and it came under state and federal scrutiny. Homeowner activists singled out the firm for its aggressive tactics that ruled out
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1116:
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529:"Manhattan U.S. Attorney Announces Agreement With Mortgage Foreclosure Law Firm To Overhaul Its Practices And Pay $ 2 Million Fine"
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efforts could begin, and interest and fees continued to accrue, eroding the homeowner's eventual bargaining position.
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282:$ 2 million, and agreed to change its practices, to settle the claims brought against it by
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The firm apologized after the ensuing uproar, but the controversy did not end.
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investors, but was dependent on Baum for almost all its business.
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811:
Finley, Kumble, Wagner, Underberg, Manley, Myerson & Casey
694:"Baum Foreclosure Firm Settles With New York for $ 4 Million"
637:"Fannie Mae, Freddie Mac Ban Baum Firm From New Foreclosures"
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United States
Attorney for the Southern District of New York
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barred servicers from using the firm. Investigations by the
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Defunct law firm headquartered in New York, United States
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468:"Occupy Buffalo protesters picket at Baum law office"
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559:"Foreclosure law firm is battling rule on accuracy"
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U.S. Attorney for the
Southern District of New York
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1031:Robinson, Silverman, Pearce, Aronsohn, and Berman
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205:The firm came to national attention in 2011 when
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611:"New York Subpoenas 2 Foreclosure-Related Firms"
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436:
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175:law, particularly in representing lenders and
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431:
1056:Squadron, Ellenoff, Plesent & Sheinfeld
1127:2011 disestablishments in New York (state)
738:
724:
866:Mudge Rose Guthrie Alexander & Ferdon
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1102:Companies based in Erie County, New York
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634:
1122:1972 establishments in New York (state)
1071:Winthrop, Stimson, Putnam & Roberts
556:
466:Epstein, Jonathan (November 15, 2011).
465:
412:Epstein, Jonathan (November 21, 2011).
411:
338:picketed the firm's offices, and urged
301:Baum came to national attention around
253:2000s: role in foreclosures and closing
1092:Defunct law firms of the United States
1084:
1066:Walter, Conston, Alexander & Green
1001:Hall Dickler Kent Goldstein & Wood
746:Defunct law firms of the United States
662:
635:Weidlich, Thomas (November 18, 2011).
585:"Law firm says party was 'poor taste'"
557:Epstein, Jonathan (November 8, 2011).
496:
355:United States House of Representatives
1016:Luce, Forward, Hamilton & Scripps
806:Donovan, Leisure, Newton & Irvine
719:
609:Morgenson, Gretchen (April 9, 2011).
582:
1097:Law firms based in New York (state)
414:"Baum foreclosure law firm closing"
167:, United States. It was founded as
13:
1021:Parker Chapin Flattau & Klimpl
1011:LeBoeuf, Lamb, Greene & MacRae
331:to attack our firm and our work."
14:
1143:
1051:Sonnenschein Nath & Rosenthal
896:Stroock & Stroock & Lavan
704:
692:Weidlich, Thom (March 22, 2012).
215:published photos from the firm's
1117:Law firms disestablished in 2011
926:Waesche, Sheinbaum & O'Regan
583:Glynn, Matt (October 30, 2011).
25:
1061:Swidler Berlin Shereff Friedman
776:Brobeck, Phleger & Harrison
685:
931:Washington, Perito & Dubuc
901:Testa, Hurwitz & Thibeault
816:Halleck, Peachy & Billings
239:New York State Bar Association
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59:
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1112:Law firms established in 1972
668:"Baum Weighs In After Uproar"
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183:actions in its later years.
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906:Thacher Proffitt & Wood
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502:"What the Costumes Reveal"
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1026:Preston Gates & Ellis
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841:Isham Lincoln & Beale
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1107:Subprime mortgage crisis
976:Community Rights Council
761:Alexander & Catalano
278:The firm later paid the
259:subprime mortgage crisis
188:subprime mortgage crisis
119:Professional corporation
936:Webster & Sheffield
846:Jenkens & Gilchrist
73: of employees
851:Keck, Mahin & Cate
383:"Steven J. Baum, P.C."
340:state attorney general
196:mortgage modifications
666:(November 19, 2011).
280:Department of Justice
62: of lawyers
51: of offices
1041:Rosenman & Colin
1006:Hopkins & Sutter
876:Pennie & Edmonds
786:Cellino & Barnes
766:Altheimer & Gray
500:(October 29, 2011).
444:. Steven J. Baum P.C
357:were also underway.
169:Marvin R. Baum, P.C.
157:Steven J. Baum, P.C.
81:Major practice areas
991:Faegre & Benson
961:Baker & Daniels
891:Steven J. Baum P.C.
856:Lord Day & Lord
796:Dewey & LeBoeuf
186:In the wake of the
21:
20:Steven J. Baum P.C.
1046:Shea & Gardner
1036:Rogers & Wells
996:Graham & James
871:Myerson & Kuhn
771:Arter & Hadden
672:The New York Times
615:The New York Times
507:The New York Times
386:Martindale–Hubbell
329:The New York Times
312:The New York Times
19:
1079:
1078:
966:Bingham McCutchen
916:Tillinghast Licht
801:Dickstein Shapiro
538:. October 6, 2011
534:(Press release).
343:Eric Schneiderman
309:, a columnist at
165:Amherst, New York
163:headquartered in
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114:Company type
97:Date founded
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981:Dewey Ballantine
971:Brown & Wood
921:Trevor Law Group
886:Shea & Gould
791:Coudert Brothers
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664:Nocera, Joseph
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642:Bloomberg News
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498:Nocera, Joseph
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336:Occupy Buffalo
257:Following the
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711:Firm website
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677:November 21,
675:. Retrieved
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648:November 21,
646:. Retrieved
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620:November 21,
618:. Retrieved
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592:. Retrieved
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568:November 21,
566:. Retrieved
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540:. Retrieved
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511:. Retrieved
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479:November 21,
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423:November 21,
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392:November 21,
390:. Retrieved
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324:class action
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272:robo-signing
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200:class action
192:robo-signing
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34:Headquarters
1132:Foreclosure
952:or absorbed
950:Merged with
351:Freddie Mac
305:2011, when
264:Long Island
225:Freddie Mac
181:foreclosure
173:real estate
84:Real estate
1086:Categories
986:Dow Lohnes
911:Thelen LLP
442:"About us"
369:References
347:Fannie Mae
221:Fannie Mae
211:columnist
89:Key people
941:WolfBlock
303:Halloween
296:mediation
241:(NYSBA).
217:Halloween
177:servicers
125:Dissolved
754:wound-up
268:Westbury
161:law firm
159:, was a
292:perjury
232:History
133:Website
105:Founder
38:Amherst
836:Howrey
388:. 2011
320:Served
146:/index
140:.mbaum
532:(PDF)
317:NEVER
266:, in
679:2011
650:2011
622:2011
596:2011
570:2011
544:2011
515:2011
481:2011
450:2011
425:2011
394:2011
349:and
223:and
148:.jsp
144:/SJB
142:.com
128:2011
100:1972
138:www
71:No.
60:No.
49:No.
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489:^
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42:NY
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